Civic Intelligence

Hope College

990 • Fiscal year 2017 • EIN 38-1381271

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

141 E 12th StreetHolland, MI 49423

(616) 395-7810

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

30th percentile

0.17x

Higher debt load relative to assets than 30% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

51st percentile

0.56x

Higher debt load relative to revenue than 51% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Net Margin

17th percentile

-3.2%

Higher net margin than 17% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

19th percentile

$417,650

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Asset Growth

32nd percentile

3.2%

Faster asset growth than 32% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

20th percentile

-1.5%

Faster revenue growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$478,936,261

Up $14,916,481 (+3.2%) from 2016

Net Assets

Up

$395,791,600

Up $23,441,921 (+6.3%) from 2016

Liabilities

Down

$83,144,661

Down $8,525,440 (-9.3%) from 2016

Revenue

Down

$147,771,215

Down $2,232,440 (-1.5%) from 2016

Expenses

Up

$152,487,469

Up $2,234,640 (+1.5%) from 2016

Net Income

Down

-$4,716,254

Down $4,467,080 (-1793%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2010: $370,634,160Liabilities 2010: $105,676,421Net Assets 2010: $264,957,7392010Assets 2011: $392,694,322Liabilities 2011: $98,681,914Net Assets 2011: $294,012,4082011Assets 2012: $406,720,486Liabilities 2012: $107,623,203Net Assets 2012: $299,097,2832012Assets 2013: $433,428,447Liabilities 2013: $99,591,613Net Assets 2013: $333,836,8342013Assets 2014: $472,505,234Liabilities 2014: $98,383,185Net Assets 2014: $374,122,0492014Assets 2015: $482,846,633Liabilities 2015: $94,683,782Net Assets 2015: $388,162,8512015Assets 2016: $464,019,780Liabilities 2016: $91,670,101Net Assets 2016: $372,349,6792016Assets 2017: $478,936,261Liabilities 2017: $83,144,661Net Assets 2017: $395,791,6002017Assets 2018: $490,988,344Liabilities 2018: $74,414,564Net Assets 2018: $416,573,7802018Assets 2019: $496,373,575Liabilities 2019: $74,132,228Net Assets 2019: $422,241,3472019Assets 2020: $493,947,019Liabilities 2020: $70,872,669Net Assets 2020: $423,074,3502020Assets 2021: $580,555,530Liabilities 2021: $67,194,760Net Assets 2021: $513,360,7702021Assets 2022: $551,187,354Liabilities 2022: $58,394,179Net Assets 2022: $492,793,1752022Assets 2023: $556,663,135Liabilities 2023: $52,292,539Net Assets 2023: $504,370,5962023Assets 2024: $567,271,858Liabilities 2024: $50,548,874Net Assets 2024: $516,722,9842024

Highlighted filing

2017

Assets$478,936,261
Liabilities$83,144,661
Net Assets$395,791,600

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0-$100MExpenses 2010: $120,579,9062010Expenses 2011: $122,599,0082011Expenses 2012: $126,212,3702012Revenue 2013: $150,071,399Expenses 2013: $131,467,018Net Income 2013: $18,604,3812013Revenue 2014: $170,646,891Expenses 2014: $136,952,323Net Income 2014: $33,694,5682014Revenue 2015: $169,049,806Expenses 2015: $144,182,311Net Income 2015: $24,867,4952015Revenue 2016: $150,003,655Expenses 2016: $150,252,829Net Income 2016: -$249,1742016Revenue 2017: $147,771,215Expenses 2017: $152,487,469Net Income 2017: -$4,716,2542017Revenue 2018: $163,936,373Expenses 2018: $154,921,818Net Income 2018: $9,014,5552018Revenue 2019: $161,497,476Expenses 2019: $157,849,940Net Income 2019: $3,647,5362019Revenue 2020: $161,551,169Expenses 2020: $154,963,019Net Income 2020: $6,588,1502020Revenue 2021: $186,977,836Expenses 2021: $164,101,083Net Income 2021: $22,876,7532021Revenue 2022: $188,512,497Expenses 2022: $176,485,315Net Income 2022: $12,027,1822022Revenue 2023: $181,670,045Expenses 2023: $187,171,727Net Income 2023: -$5,501,6822023Revenue 2024: $189,367,757Expenses 2024: $201,600,333Net Income 2024: -$12,232,5762024

Highlighted filing

2017

Revenue$147,771,215
Expenses$152,487,469
Net Income-$4,716,254
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$305,469,796
Mission and Program Overview

Mission

The mission of hope college is to educate students for lives of leadership and service in a global society through academic and co-curricular programs of recognized excellence in the liberal arts and in the context of the historic christian faith.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$202,442,089$211,897,373▲ $9,455,284
Investments Other Securities$132,270,270$148,943,020▲ $16,672,750
Investments in Publicly Traded Securities$57,737,483$68,700,086▲ $10,962,603
Savings and Temporary Cash Investments$36,220,894$25,103,193▼ $11,117,701
Pledges and Grants Receivable$23,482,643$13,556,269▼ $9,926,374
Accounts Receivable$8,368,460$8,607,056▲ $238,596
Prepaid Expenses and Deferred Charges$2,453,994$1,299,608▼ $1,154,386
Inventories for Sale or Use$761,660$753,024▼ $8,636
Total Assets$464,019,780$478,936,261▲ $14,916,481
Other Assets Total$282,287$76,632▼ $205,655
Liabilities
Tax Exempt Bond Liabilities$49,320,000$45,412,723▼ $3,907,277
Other Liabilities$37,608,085$33,589,883▼ $4,018,202
Accounts Payable and Accrued Expenses$4,495,278$4,033,984▼ $461,294
Deferred Revenue$246,738$108,071▼ $138,667
Total Liabilities$91,670,101$83,144,661▼ $8,525,440
Net Assets / Fund Balance
Unrestricted Net Assets$182,162,933$201,896,556▲ $19,733,623
Permanently Rstr Net Assets$139,112,808$143,120,475▲ $4,007,667
Temporarily Rstr Net Assets$51,073,938$50,774,569▼ $299,369
Total Net Assets Fund Balance$372,349,679$395,791,600▲ $23,441,921
Total Liabilities and Net Assets / Fund Balance$464,019,780$478,936,261▲ $14,916,481

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$152,970,464$92,990,607$245,961,071
Equipment$11,290,466$22,877,488$34,167,954
Land$24,673,431-$24,673,431
Other Land Buildings$22,963,012-$22,963,012
Other Securities$83,776,563--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$193,868,484$4,071,931▲ $24,122,917$8,814,877$213,248,455
2016$211,786,418$4,224,831▼ $13,749,987$8,392,778$193,868,484
2015$206,199,053$5,730,924▲ $7,702,829$7,846,388$211,786,418
2014$175,036,306$9,937,514▲ $28,400,349$7,175,116$206,199,053
2013$163,587,087$4,318,541▲ $13,857,992$6,727,314$175,036,306
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John C KnappPresidentFT$318,263$99,387$417,650
Richard J PuckettVP for DevelopmentFT$232,931$78,949$311,880
Thomas BylsmaCFOFT$194,224$61,504$255,728
William VanderbiltVP for AdmissionsFT$176,750$38,295$215,045
Richard a FrostVP for Student DevelopmentFT$152,984$49,721$202,705
Jennifer FellingerVP for Public Affairs/marketingFT$146,500$34,701$181,201
Greg MayburyDirector of Physical PlantFT$142,658$36,760$179,418
Todd P SteenFacultyFT$144,919$26,386$171,305
David VanwylenDean-natural ScienceFT$138,870$23,453$162,323
Sonja Trent-brownTrustee/professorFT$104,106$24,229$128,335
Karen Nordell-pearsonInterim-provostFT$109,642$18,191$127,833
Brent KruegerTrustee/professorFT$89,974$24,208$114,182
Douglas C RuchTrusteePT$26,968-$26,968

Highest Paid Contractors

ContractorServicesLocationCompensation
Granger ConstructionConstruction Services940 Monroe Ave NW Suite 142, Grand Rapids, MI 49503$10,726,582
Creative Dining ServiceFood Service ManagementONE ROYAL PARK DRIVE SUITE 3, Zeeland, MI 49464$10,718,255
Lakewood Construction CompanyConstruction Services11253 James Street, Holland, MI 49424$1,520,181
Astro Turf CorporationARCHITECTURE SERVICES - Field Turf2680 Abutment Road, Dalton, GA 30721$639,558
Elzinga & VolkersConstruction Services86 E 6TH STREET, Holland, MI 49424$559,853
Revenue and Support

Revenue Composition

Contributions and Grants
$11,847,507
Program Service Revenue
$134,053,726
Investment Income
$658,051
Other Revenue
$1,211,931
All Other Contributions
$8,654,979
Change in Net Assets
$-4,716,254

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded85$566,213Nyse - Fair Market Value (FMV)
Works of Art3$123,100Fair Market Value (FMV)
Other Non Cash Contri Table3$58,471Fair Market Value (FMV)
Real Estate Residential1$7,000Fair Market Value (FMV)
Other Non Cash Contri Table23$6,533Fair Market Value (FMV)
Other Non Cash Contri Table1$3,575Fair Market Value (FMV)
Other Non Cash Contri Table1$1Fair Market Value (FMV)
Total Noncash Contributions117$764,893-

Audited Revenue Reconciliation

Revenue per Audited Statements
$113,323,356
Revenue Not Reported on Financial Statements
$34,447,859
Revenue Not Reported on Form 990
$28,164,500
Other Revenue Adjustments
$33,569,536
Total Revenue per Audited Statements
$141,487,856
Total Revenue per Form 990
$147,771,215
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$66,854,891
Other Expenses$52,063,042
Grants and Similar Amounts Paid$33,569,536
Total Fundraising Expense$3,558,605
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$45,532,473$3,845,966$1,887,842$51,266,281
Grants to Domestic Individuals$32,315,255--$32,315,255
Depreciation Depletion$8,271,902$991,147-$9,263,049
Other Employee Benefits$5,867,811$536,743$262,406$6,666,960
All Other Expenses$4,148,767$258,362$8,875$4,416,004
Occupancy$4,055,378$176,130$325$4,231,833
Travel$3,806,037$145,438$264,519$4,215,994
Office Expenses$3,719,645$196,370$134,485$4,050,500
Pension Plan Contributions$3,414,541$340,539$175,409$3,930,489
Payroll Taxes$3,123,464$252,263$126,988$3,502,715
Fees for Services Other$2,541,486$323,516$197,339$3,062,341
Other Expenses$1,847,096$69,655$121,667$1,916,751
Interest$1,458,154$174,718-$1,632,872
Current Officers, Directors, Trustees, and Key Employees$1,378,000$55,362$55,084$1,488,446
Information Technology$1,090,982$162,422$9,780$1,263,184
Foreign Grants$1,254,281--$1,254,281
Advertising$616,805$184,316$172,023$973,144
Fees for Service Investment Mgmnt Fees-$878,323-$878,323
Conferences and Meetings$345,133$346,881$3,684$695,698
Insurance$347,865$154,200$53$502,118
Fees for Services Legal$6,265$104,343-$110,608
Fees for Services Accounting$2,700$87,400-$90,100
Total Functional Expenses$139,193,092$9,735,772$3,558,605$152,487,469

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$152,487,469
Total Expenses per Audited Statements$118,045,935
Expenses per Audited Statements$118,039,610
Expenses Not Reported on Financial Statements$34,447,859
Other Expense Adjustments$33,569,536
Expenses Not Reported on Form 990$6,325
International Activity

International Summary

Offices
0
Employees
0
Spending
$6,059,181

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland & Greenland)Direct Foreign InvestmentN/a00$4,147,858
East Asia and the PacificScholarshipsN/a00$518,179
EuropeProgram ServicesOff Campus Enrichment, Research00$478,216
Sub-Saharan AfricaScholarshipsN/a00$347,088
Central America and the CaribbeanScholarshipsN/a00$147,620
Sub-Saharan AfricaProgram ServicesOff Campus Enrichment00$125,912
Europe (Including Iceland & Greenland)ScholarshipsN/a00$102,608
Middle East and North AfricaScholarshipsN/a00$42,406
East Asia & PacificProgram ServicesOff Campus Enrichment, Recruitment00$36,666
North AmericaScholarshipsN/a00$31,380
Russia and Neighboring StatesScholarshipsN/a00$25,000
South AmericaScholarshipsN/a00$22,000
South AsiaScholarshipsN/a00$18,000
North AmericaProgram ServicesOff Campus Enrichment00$16,248
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accumulated Post-retirement Benefits$9,034,175
ANNUITIES PAYABLE & Trusts$6,988,673
Refundable Federal Perkins Loan Advances$5,737,000
Accrued Liabilities$4,997,585
Interst Rate Swap$4,416,683
Students and Other Deposits$2,415,767

Bond Issues

BondIssuerIssuedIssue PricePurpose
DMICHIGAN Finance Authority2013-08-08$16,255,000SEE PART VI
Amichigan Finance Authority2015-05-28$13,940,000sEE PART VI
CMIchigan Finance Authority2012-03-28$11,220,000SEE PART VI
AMichigan Finance Authority2010-12-17$10,200,000SEE PART VI
BThe Economic Development Corporation of the County of Ottawa2011-12-14$10,000,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
D$16,255,000$16,255,000$2,608,000-
A$13,940,000$13,940,000$2,030,000-
C$11,220,000$6,220,000$55,000-
A$10,200,000$10,200,000$6,430,000$1,040
B$10,000,000$9,998,960$4,850,000-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

Members of the audit and compliance committee of the board of trustees are provided with a reasonable opportunity to review and comment to executive leadership on the Form 990 of Hope College before it is filed with the Internal Revenue Service. Further, the Executive leadership of Hope College provides the minutes of the audit and compliance committee Form 990 review to the board of trustees showing an overview of the highlights at the next regularly scheduled board meeting following the filing of the Form 990.

Form 990, Part VI, Section B, line 12C

Members of the board of trustees prepare and sign conflict statements annually. These statements are reviewed and provided to trustee members at the october board of trustee meeting to ensure compliance with the conflict policy. Members of the committee with a personal involvement in a particular decision will excuse themselves from discussion leading to a decision and from the decision itself, and this disclosure and absence will be noted in the minutes of the meeting.

Form 990, Part VI, Section B, line 15

The Board of Trustees (BOT) approves a recommended compensation increase brought to the BOT from the CFO. The compensation increase is highly correlated to the tuition increase approved for the following academic year. The rates recommended are determined by looking at the following factors: Cost of Living (CPI), CUPA (College and University Personnel Association) surveys, and the Lakeshore Human Resources Management Association surveys - which is a chapter of the Society of Human Resources Management (SHRM). Since we are not a union" school we do not have deliberation but if discussion does occur during the BOT approval process, it would be documented in the BOT minutes for that specific meeting. THE CEO'S (PRESIDENT'S) COMPENSATION IS BASED UPON A RECOMMENDATION FROM THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND IS THEN APPROVED BY THE FULL BOARD OF TRUSTEES. COMPARISON DATA IS USED ALONG WITH EVALUATION OF PERFORMANCE IN THEIR DECISION.

Form 990, Part VI, Section C, line 18

The organization makes form 990 available upon request.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Hope College
EIN
38-1381271
Phone
6163957810
Address
141 E 12TH STREET, HOLLAND, MI 49423

Signing Officer

Name
Douglas Vandyken
Title
Director of Finance
Phone
6163957810
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Bylsma
Formed
1866
Legal Domicile
Mi
Voting Board Members
33
Independent Board Members
29
Employees
3,453
Volunteers
29

Preparer

Firm
Plante & Moran Pllc
Address
750 Trade Centre Way Ste 300, Portage, MI 49002
Preparer
Vicki L VanDenBerg CPA
Phone
2695674587
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Change in value of split interest agreement -897,256. Change in post retirement 1,051,210. Change in value of swap agreements 2,789,464.

Form 990, Part XII, Line 2C:

The oversight process for the audit has not changed since last year.

Financial Statement Notes

Part III, Line 4:

Hope college, through the construction (2004-05) of the martha miller center for international communications, has purchased $79,000 in pieces of art that are on permanent display in this building. In fall of 2015, hope college opened the kruizenga art museum. Strategic pieces of art were purchased to put on display in the art gallery which will assist the college's art, history, and cultural heritage curriculum.

Part V, Line 4:

The endowment fund of hope college is used to support the ongoing mission of the college by providing annual resources that assist with scholarship, faculty development, academic support, research, student services, facility maintenance, and other program support.

Part XI, Line 2D - Other Adjustments:

Change in value of split interest agreement -897,256. Change in value of swap agreements 2,789,464. Change in post retirement 1,051,210.

Part XI, Line 4B - Other Adjustments:

Institutional scholarships & fellowships 33,569,536.

Part XII, Line 4B - Other Adjustments:

Institutional scholarships & fellowships 33,569,536.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1CREATIVE DINING SERVICE
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2Lakewood Construction Company
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3Astro Turf Corporation
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4ELZINGA & VOLKERS
IRS990/ContractorCompensationGrp/ServicesDesc0CONSTRUCTION SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc1FOOD SERVICE MANAGEMENT
IRS990/ContractorCompensationGrp/ServicesDesc2CONSTRUCTION SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc3ARCHITECTURE SERVICES - Field Turf
IRS990/ContractorCompensationGrp/ServicesDesc4CONSTRUCTION SERVICES
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IRS990/Desc0THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO APPROXIMATELY 3,100 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2016 AND 2,900 IN THE SPRING OF 2017. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$567$50.5$517$189$202$12.2
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$557$52.3$504$182$187$5.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$551$58.4$493$189$176$12.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$581$67.2$513$187$164$22.9
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$494$70.9$423$162$155$6.59
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$496$74.1$422$161$158$3.65
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$491$74.4$417$164$155$9.01
2017Detailed filing. Detailed filing data is available for this year.$479$83.1$396$148$152$4.72
2016Detailed filing. Detailed filing data is available for this year.$464$91.7$372$150$150$0.25
2015Detailed filing. Detailed filing data is available for this year.$483$94.7$388$169$144$24.9
2014Detailed filing. Detailed filing data is available for this year.$473$98.4$374$171$137$33.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$433$99.6$334$150$131$18.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$407$108$299$126
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$393$98.7$294$123
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$371$106$265$121